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Moore's Evergreen Hill <br />Development Contract <br />conditions of approval of the Moore's Evergreen Hill Plat as delineated by City Resolution <br />Number 2007 -8 -202 and any City resolution associated with final plat approval granted on <br />August 22, 2007. Said surety shall be immediately available for City's use to complete part or <br />all of the construction in a timely and satisfactory manner, as determined in the sole discretion of <br />City. Said surety shall remain in full force and effect until completion and acceptance of the <br />Required Improvements based on the sole determination of City. After the first lift of asphalt is <br />applied to the streets and approved by the City Engineer, the financial security may be reduced to <br />an amount equal to the cost of the final lift of asphalt and any remaining utility and restoration <br />work to be done multiplied by 150 %. <br />12. The Developer agrees that the terms of the financial security shall be deemed to <br />have been violated if the Developer fails to perform any of the terms of this Contract in the <br />manner required by the City. Determination of a violation of the terms of the Contract shall be <br />in the sole discretion of the City. The financial security shall be immediately available for use by <br />the City to complete part or all of the Required Improvements in the event this agreement is <br />breached or the Required Improvements are not completed in an acceptable or timely manner, as <br />determined in the sole discretion of the City. The City shall have the right to enter upon the <br />property to inspect work or complete all or a portion of the Required Improvements as necessary. <br />In the event the City does any such work, the City may, in addition to its other remedies, assess <br />its costs in whole or in part. <br />13. WAC and SAC charges will become due with each building permit. <br />14. Park dedication fees will be payable at the time of the building permit application <br />for each lot within the development based on the fee in effect at the time of the building permit <br />application. <br />15. The Developer shall deposit with the City five thousand dollars ($5,000), from <br />which any and all costs and expenses incurred by the City, in any way related to this Contract, <br />including, but not limited to, planning and engineering fees, legal fees, City staff time, cost of <br />_4_ <br />5 <br />